FineMark National Bank & Trust Sells 590 Shares of Deere & Company (NYSE:DE)

FineMark National Bank & Trust cut its holdings in Deere & Company (NYSE:DE) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,450 shares of the industrial products company’s stock after selling 590 shares during the period. FineMark National Bank & Trust’s holdings in Deere & Company were worth $12,576,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of DE. Morgan Stanley lifted its position in shares of Deere & Company by 1.3% during the third quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock worth $1,920,548,000 after acquiring an additional 65,006 shares in the last quarter. FMR LLC grew its stake in shares of Deere & Company by 6.6% in the third quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock worth $1,650,767,000 after purchasing an additional 269,571 shares during the last quarter. Norges Bank bought a new stake in shares of Deere & Company in the fourth quarter worth about $1,248,036,000. Northern Trust Corp boosted its position in Deere & Company by 2.5% during the 3rd quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock valued at $1,155,430,000 after acquiring an additional 73,601 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Deere & Company by 11.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock valued at $638,167,000 after acquiring an additional 160,369 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Evercore ISI boosted their price target on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Wells Fargo & Company decreased their target price on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. TD Cowen boosted their target price on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research note on Friday, May 17th. Oppenheimer reiterated an “outperform” rating and set a $456.00 target price on shares of Deere & Company in a research note on Thursday, May 16th. Finally, Morgan Stanley boosted their target price on shares of Deere & Company from $430.00 to $450.00 in a research note on Wednesday, May 15th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $432.92.

Deere & Company Trading Down 1.5 %

Deere & Company stock traded down $5.74 during midday trading on Thursday, reaching $380.27. The stock had a trading volume of 1,274,782 shares, compared to its average volume of 1,469,832. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00. The firm has a market cap of $105.85 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 1.53 and a beta of 1.04. The company has a fifty day moving average of $399.95 and a 200 day moving average of $386.47.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. The company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The firm’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same period in the prior year, the company posted $9.65 EPS. On average, analysts anticipate that Deere & Company will post 26.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Investors of record on Friday, March 29th were issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Wednesday, March 27th. Deere & Company’s payout ratio is 17.70%.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.